MGT 033 Ch 6 Flashcards
(22 cards)
This can be a service or an item, It can be physical or in virtual or cyber form and is made at a cost and each is sold at a price.
Product
This describes the process of imagining, creating, and iterating products that solve users’ problems.
Product design
What are the 4 steps of the Product Design Process?
- User Research
- Narrow down and Define
- Ideate
- Create Prototypes and Deliver
The price that can be charged depends on?
The market, the quality, the marketing and the segment that is targeted.
It is not enough for the product to be useful to the customer.
It must also look good.
Aesthetic Appeal
In this method, the company publishes questionnaires online and requests users to fill them out. This method can provide a large quantity of data in a very short time. This is an inexpensive method to collect information, but it may not be as accurate as the interviews.
Online Surveys
This is a method users are interviewed either in person or by telephone to understand their needs and what they expect from a new product. This process is time-consuming but can give you the most accurate insights.
User Interviews
Studying the competitors and how they satisfy the customers is an excellent way to know what the market needs. It allows you to learn from the mistakes made by other companies and improve upon them.
Market Research
Customers are observed when they use the products in a natural environment. It is an excellent way to empathize with the users and put yourself in their shoes
Contextual Inquiry
Once the team has an idea about what the customers need, it is time for them to sit down and?
This stage also helps get the stakeholders’ confidence and this step of product design in operations management helps ensure that the ideas are aligned with the company’s overall objectives.
Ideate
It is the 2nd phase of product design in operations management, where a huge amount of data is analyzed to determine the exact customer needs. In this stage, it is essential to understand the customer fully.
Narrow Down And Define
In product design what does MVP mean?
Minimum Viable Product
What are the 5 characteristics to remember when designing a product?
- Utility
- Aesthetic Appeal
- Simplicity
- Innovation
- Longetivity
The first quality a product must possess is _____. The company must make sure that the item is useful to customers and that it can solve a problem that they find serious enough. Every aspect of the product design should deliver some value to the user.
Utility
is an important factor in a product. While it must serve the purpose, it must also be easy to use.
Customers must easily understand what the product does and what each feature is for.
Simplicity
There is no use launching a product that gives the same benefits as those already available in the market.
Whether it is in the matter of design, ease-of-use or features, the product must have the edge over others. Those taking care of product design in operations management must take note of this aspect.
Innovation
Customers want their purchases to last longer and provide value for money. Product designers must make sure that the product serves users for a long time and has features that will take care of their future needs.
This characteristic is a testament to a designer’s skills as well as better for the environment.
Longevity
The design and its characteristics have to undergo an economic analysis and must be studied in the light of available production facilities and techniques.
Production aspect
A costing analysis is naturally dependent on?
The sales volume
This aspect delves into the various types of product analysis: such as technical, functional, economic, and aesthetic analysis, as well as frameworks and models like SWOT, Porter’s Five Forces, PEST, and Value Chain Analysis.
Economic Analysis
This aspect can be characterized to finish the meaning of an item utilizing variations, and these are properties that can be added to the item definition to broaden the depiction of each product.
Product Characteristics
This aspect establishes that the proposed product will satisfy a demand in the market, and that services it can offer are both desirable and acceptable.
Marketing Aspect
